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Steppe Gold (TSX: STGO) Reports USD32.4M Q1 Revenue on 15,611 oz Gold Sales
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Steppe Gold Ltd. (TSX: STGO) has released its financial and operational results for the three months ending March 31, 2025. The company reported total group revenue of USD32.37 million, generated from the sale of 15,611 ounces of gold. The average realized gold price for the period was USD2,041 per ounce, influenced by a forward sales agreement set at USD2,000 per ounce. This contract is expected to conclude in June 2025, after which sales are anticipated to occur at spot market rates.
During the quarter, Steppe Gold recorded gold production of 19,860 ounces and silver production of 5,412 ounces. Most of the gold output came from residual leaching activities at the ATO mine, as Phase 1 resources are nearly depleted. The company also reported All-in Sustaining Costs (AISC) of USD991 per ounce, citing lower capital expenditures and efforts in managing operational costs. The company noted that capital expenditures are likely to increase in the upcoming quarters due to planned equipment purchases.
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